Location: Scott County, TN | Metro: Campbell County, TN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The dynamics of ZIP code 37756 present an interesting picture for real estate investors. The Fair Market Rent (FMR) for the area is set at $910 for fiscal year 2024, indicating a level that landlords can charge to remain competitive with government standards. However, the actual market rent as per the latest Census American Community Survey (ACS) data stands at $610. This suggests that the rental market in 37756 is currently underpriced relative to what is considered fair market value, which could indicate either a surplus of rental properties or a high sensitivity to pricing among renters.
The median home value in the area is $159,989, which is relatively low compared to many other regions across the United States. This figure can be interpreted as a sign of affordability, but also potentially reflects lower property values due to various economic factors such as job availability, population density, and local amenities.
A significant 38.8% of households in ZIP 37756 are renters, which points to a substantial portion of the population facing long-term housing pressures. This high percentage of renters can suggest ongoing challenges for homeownership, possibly due to financial constraints or a preference for renting over buying. For landlords and small-portfolio investors, this means a steady demand for rental units, although the current market rent below the FMR might imply some competition in attracting tenants.
While the exact trajectory of the market cannot be determined without historical data, the snapshot provided indicates a balance between supply and demand that leans towards supply slightly outpacing demand. This is evidenced by the gap between the market rent and the FMR, suggesting that landlords might need to offer competitive rates or incentives to attract tenants.
In summary, ZIP 37756 offers a market characterized by affordable home values and a significant rental sector. Investors should be mindful of the current pricing dynamics and the implications of a high renter share on long-term housing trends.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.